Former U.S. President Donald Trump unveiled his latest non-fungible token (NFT) collection, titled "Series 4: The America First Collection" on Aug. 27, marking the fourth installment in Trump's ongoing series of digital trading cards.
What Happened: Blockchain data reveals that within just one day, the collection has recorded over 22,000 sales on the Polygon MATIC/USD network, generating more than $2.17 million in revenue.
Each NFT in the collection was minted at a price of $99, and this initial sales figure represents just 6% of the total potential supply of 360,000 NFTs.
If the entire collection is minted, it could potentially bring in over $35 million.
Similar to his previous releases, Trump's latest NFTs depict him in various poses and costumes, building on the themes established in the earlier series.
However, there's a notable difference this time: these NFTs aren't tradable on secondary markets until Jan. 31, 2025, meaning buyers will need to hold onto their digital assets for some time before they can sell or trade them.
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Why It Matters: Trump's foray into the NFT space signals a notable shift from his earlier stance on digital currencies.
Once a skeptic, Trump has now fully embraced the crypto community, accepting campaign donations in cryptocurrency and engaging with key figures in the industry.
Trump first entered the NFT market in December 2022 with his inaugural collection.
The financial outcomes for buyers of his previous series have varied, with the first collection showing a remarkable 100% gain in its floor price.
In contrast, the second and third collections saw significant declines in value for those who minted the NFTs.
Recent financial disclosures reveal that Trump has earned over $7 million from his NFT ventures to date, highlighting the substantial financial impact of his digital trading cards.
As Trump continues to make waves in the digital asset space, the broader implications of his involvement will likely be a topic of discussion at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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